Data released by Absa reflects a significant rise in the value of online transactions in 2024.
The global economy was anticipated to expand at an average annual rate of 3.5% between 2020 and 2023.
The increase in excise taxes has fuelled inflation growth for alcohol and tobacco.
The government aims that any investments are sustainable and beneficial for the country in the long term.
The motor vehicle manufacturer will also be producing a new SUV vehicle at its plant in the Eastern Cape.
But the IMF has suggested improvements in reporting, forecasting, budgeting and fiscal risk analysis.
A review of South Africa’s participation as a beneficiary no longer appears to be on the table.
The largest manufacturing contribution came from wood, paper and paper products, which rose 14.9%.
Regional conflicts, geopolitical tensions and economic policy uncertainty pose substantial downside risks.
"Bringing South Africa to its knees would be self-sabotage for the US." – Naledi Pandor, foreign relations minister.
But another R3.4-billion bailout is needed to pay retrenchment packages.
Export volumes declined 27.1% but the market is expected to improve with the introduction of new models later this year.
But goods delivery times are improving, possibly pointing to improved local supply chain efficiency.
